{"id":75991,"date":"2024-08-21T16:44:46","date_gmt":"2024-08-21T20:44:46","guid":{"rendered":"https:\/\/autosector.com\/?p=75991"},"modified":"2024-08-21T16:44:46","modified_gmt":"2024-08-21T20:44:46","slug":"electric-vehicles-hit-milestone-18-models-5k-sales","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=75991","title":{"rendered":"Electric vehicles hit major milestone as 18 models join the 5K sales club in Q2"},"content":{"rendered":"
\n\t\"Electric-vehicles-5K\"<\/figure>\n

Despite talk of an EV slowdown, more electric cars are hitting US streets. In the second quarter, 18 models topped 5K in sales, with Tesla, Ford<\/a>, and Hyundai leading the way. Meanwhile, newcomers, like Toyota\u2019s bZ4X, Kia\u2019s EV9, and the Chevy Blazer EV, joined the club.<\/p>\n

<\/p>\n

According to Kelley Blue Book<\/a><\/em>, EV sales hit a new record in the second quarter, with 320,463 units sold in the US in Q2. That\u2019s up 11% from last year and 23% from Q1, with new models and heavy discounts driving growth.<\/p>\n

With an influx of new EV models, Tesla\u2019s market share slipped below 50% (49.7%) for the first time. <\/p>\n

New Chevy EV models, including the Blazer, Equinox, and Silverado, added over 21,000 to GM\u2019s total. However, it was not enough to top rival Ford, which sold nearly 24,000 EVs<\/a> in Q2.<\/p>\n

If you include combined Hyundai Motor Group (Hyundai, Kia, Genesis) sales, Hyundai was actually the second-best-selling EV brand in the US. According to Motor Intelligence<\/em>, Hyundai, including Kia and Genesis, accounted for 10%<\/a> of the US EV market in Q2, topping Ford (7.4%) and GM (6.3%).<\/p>\n

Hyundai\u2019s dedicated IONIQ 5 and 6 electric vehicles continued seeing higher demand, while Kia\u2019s new EV9 joined the 5K sales club.<\/p>\n

\"Electric-vehicles-5K\"
(Photo: Courtesy of Tesla Inc.)<\/figcaption><\/figure>\n

Electric vehicles with over 5K in sales in Q2<\/h2>\n

Despite Tesla\u2019s (inevitable) falling share, \u201cthe overall competitive landscape for electric vehicles is intensifying,\u201d Cox Automotive<\/em> Industry Insights Director Stephanie Valdez Streaty said.<\/p>\n

\u201cThis increased competition is leading to continued price pressure, gradually boosting EV adoption,\u201d Valdez Streaty explained, adding, \u201cAutomakers that deliver the right product at the right price and offer an excellent consumer experience will lead the way in EV adoption.\u201d<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Electric Vehicle<\/strong><\/td>\nQ2 2024 Sales<\/strong><\/td>\n<\/tr>\n
Tesla Model Y<\/td>\n101,301<\/td>\n<\/tr>\n
Tesla Model 3<\/td>\n42,710<\/td>\n<\/tr>\n
Ford Mustang Mach-E<\/td>\n12,645<\/td>\n<\/tr>\n
Hyundai IONIQ 5<\/td>\n11,906<\/td>\n<\/tr>\n
Tesla Cybertruck<\/td>\n8,755<\/td>\n<\/tr>\n
Rivian R1S<\/td>\n8,137<\/td>\n<\/tr>\n
Ford F-150 Lightning<\/td>\n7,902<\/td>\n<\/tr>\n
Toyota bZ4X<\/td>\n7,571<\/td>\n<\/tr>\n
Cadillac Lyric<\/td>\n7,294<\/td>\n<\/tr>\n
BMW i4<\/td>\n7,066<\/td>\n<\/tr>\n
Kia EV6<\/td>\n6,882<\/td>\n<\/tr>\n
Chevrolet Blazer EV<\/td>\n6,634<\/td>\n<\/tr>\n
Tesla Model X<\/td>\n6,570<\/td>\n<\/tr>\n
Volkswagen ID.4<\/td>\n5,690<\/td>\n<\/tr>\n
Mercedes EQE<\/td>\n5,684<\/td>\n<\/tr>\n
Kia EV9<\/td>\n5,664<\/td>\n<\/tr>\n
Kia Niro<\/td>\n5,434<\/td>\n<\/tr>\n
Nissan Ariya<\/td>\n5,203<\/td>\n<\/tr>\n<\/tbody>\n<\/table>
Electric vehicles with over 5K in US sales in Q2 (Source: Kelley Blue Book)<\/figcaption><\/figure>\n

In the second quarter, 18 electric vehicles topped the 5K sales milestone. Tesla\u2019s Model Y and 3 have long topped the list, while Hyundai\u2019s IONIQ 5<\/a> and Ford\u2019s Mustang Mach-E and Lightning models continued climbing.<\/p>\n

Meanwhile, several new models made the list, including the Toyota bZ4X, Nissan Ariya, Chevy Blazer EV, Kia EV9, and Tesla\u2019s Cybertruck.<\/p>\n

\"electric-vehicles-5K\"
Kia EV9 GT-Line (Source: Kia)<\/figcaption><\/figure>\n

The new competition is driving prices down as automakers introduce significant incentives. According to Motor Intelligence<\/em>, Kia\u2019s new EV9 was among them, with an average discount of over $18,000<\/a> in June.<\/p>\n

A recent Consumer Reports<\/a><\/em> study found that Subaru\u2019s Solterra, which just missed 5K in sales (4,238), was the most discounted car (EV or gas) selling for 12% off MSRP.<\/p>\n

\"Subaru's-most-discounted-cars\"
2024 Subaru Solterra (Source: Subaru)<\/figcaption><\/figure>\n

Like many automakers, Subaru is passing deals on through leases, with the Solterra starting at $329 per month<\/a> (36 months) with $0 down.<\/p>\n

As more models are launched and EV tech continues improving, sales are expected to continue rising. It will be interesting to see how many models make the list at the end of the year.<\/p>\n

Source: Bloomberg<\/a>, Cox Automotive<\/em><\/p>\n

\n

FTC: We use income earning auto affiliate links.<\/em> More.<\/a><\/p>\n

\"\"<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Despite talk of an EV slowdown, more electric cars are hitting US streets. In the second quarter, 18 models topped 5K in sales, with Tesla, Ford, and Hyundai leading the way. Meanwhile, newcomers, like Toyota\u2019s bZ4X, Kia\u2019s EV9, and the Chevy Blazer EV, joined the club. According to Kelley Blue Book, EV sales hit a […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-75991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/75991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=75991"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/75991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=75991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=75991"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=75991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}